Essay About 2019First Option And Financial Service Sectors

Macphie & Company: The Growth Imperative
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MacPhie & Company: The Growth Imperative Amir Kharazmkia (1710945)University Canada WestProfessor: Dr. Connie Bygrave BUSI 640 Consulting Practices09th June 2019First option :According to the case, the majority of the projects which MacPhie has taken, are related to health care and financial service sectors, although they have a target to work in every sector. As research conducted by Ismailanji in 2018 for IBIS world institute, financial management, and health care sectors allocated 12% and %4 of total segmentation of consulting management in Canada respectively. However, the largest share of this segmentation is related to strategic management sector, with 25.9% of the total share.  MacPhie can focus on this market and also there is a prediction for a small consulting company which manifests %7 grow until 2023. On the other hand, 54.1% of the market segment is about service producing business like retailers and health providers and financial services which MacPhie has a professional background about those market. So in order to stand among 20 top consulting firms in Canada, they should focus on strategic management approach and try to win assignment about strategic management segment. Pros: high revenue will be expected to earn, reputation will increaseCons:There is a risk of profit loss due to other competitors like McKinsey and Deloitte Touche , company scale from point of staff number is a hinder to take time-consuming and complicated assignments. Second option :According to Staff (2018) in Canadian business website which has published about 500 fastest growing consulting companies information, first 20 consulting organizations at least have more than 25 staff inside the company. Currently, MacPhie & Company has only four staff, Hugh included, so with this amount of employee achieving the target for being among 20 top consulting companies is really hard to reach, because more projects need more professional experienced employees to complete the assignment. Based on the case, MacPhie  Co. never or rarely was successful to win the project that offered by like MERX ( Canadian leading electronic tendering company ) or Biddingo (online portal between supplier and buyer). because they don’t spend much time to prepare RFPs ( official request for proposal)  and consequently they were not able to take the assignment (Schnarr,Kunsch,2016). The first option can be increasing the employee number as expanding the business scale in order to allocate an appropriate person to work on a proposal for a different client.Pros:The chance of winning the project by sending a strong proposal for the various sector in Canada is high because they have the potential to grow by extra effort and expanding reputation in combination with others. Cons:There is a risk of recruiting more employee in the company. If at the end of the fiscal year the revenue was the same as previous year and company are not able to make more profit with more staff, net income will be reduced so it can affect the performance of the company. Third option: